Jan 24, 2013 6:30pm PST
snis. >> well, you remember bill clinton at the convention said arithmetic. it comes down to arithmetic. we've got this yawning gap between what the government takes in and what it spends. and realistically you've got to pov both ends this is what president obama calls balance and what the republicans call nonsense because it involves raising taxes. i think you have to do bovment i think you have to have more revenue and you have to cut back spending. >> susie: let's say congress doesn't do that. what happens next? explain to people what happens next. >> i think the real risk is that we come to a showdown in march when the current stopgap budget ends and we face the government shutdown. people will lose services. people will lose jobs. and there will be a fiscal contraction, on top of the ones that we've already put in place. and that's not great for the economy, for sure. >> you know, and this whole conversation about a budget and the deficit and all of that. it's all about raising taxes and cutting spending. and there's no discuss about growth. and that is what americans really want.